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Side-by-side financial comparison of Caledonia Mining Corp Plc (CMCL) and Vericel Corp (VCEL). Click either name above to swap in a different company.

Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $46.9M, roughly 2.0× Caledonia Mining Corp Plc). Vericel Corp runs the higher net margin — 25.0% vs 7.0%, a 18.0% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 13.8%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 17.1%).

Hochschild Mining plc is a leading British-based silver and gold mining business operating in North, Central, and South America. It is headquartered in Lima, Peru, with a corporate office in London, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The main shareholder is the Peruvian businessman Eduardo Hochschild.

Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.

CMCL vs VCEL — Head-to-Head

Bigger by revenue
VCEL
VCEL
2.0× larger
VCEL
$92.9M
$46.9M
CMCL
Growing faster (revenue YoY)
VCEL
VCEL
+9.5% gap
VCEL
23.3%
13.8%
CMCL
Higher net margin
VCEL
VCEL
18.0% more per $
VCEL
25.0%
7.0%
CMCL
Faster 2-yr revenue CAGR
VCEL
VCEL
Annualised
VCEL
34.6%
17.1%
CMCL

Income Statement — Q3 FY2024 vs Q4 FY2025

Metric
CMCL
CMCL
VCEL
VCEL
Revenue
$46.9M
$92.9M
Net Profit
$3.3M
$23.2M
Gross Margin
41.2%
78.7%
Operating Margin
18.6%
24.1%
Net Margin
7.0%
25.0%
Revenue YoY
13.8%
23.3%
Net Profit YoY
-33.3%
17.3%
EPS (diluted)
$0.13
$0.46

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CMCL
CMCL
VCEL
VCEL
Q4 25
$92.9M
Q3 25
$67.5M
Q2 25
$63.2M
Q1 25
$52.6M
Q4 24
$75.4M
Q3 24
$46.9M
$57.9M
Q2 24
$50.1M
$52.7M
Q1 24
$38.5M
$51.3M
Net Profit
CMCL
CMCL
VCEL
VCEL
Q4 25
$23.2M
Q3 25
$5.1M
Q2 25
$-553.0K
Q1 25
$-11.2M
Q4 24
$19.8M
Q3 24
$3.3M
$-901.0K
Q2 24
$10.2M
$-4.7M
Q1 24
$2.1M
$-3.9M
Gross Margin
CMCL
CMCL
VCEL
VCEL
Q4 25
78.7%
Q3 25
73.5%
Q2 25
73.7%
Q1 25
69.0%
Q4 24
77.6%
Q3 24
41.2%
71.9%
Q2 24
45.8%
69.5%
Q1 24
35.9%
68.9%
Operating Margin
CMCL
CMCL
VCEL
VCEL
Q4 25
24.1%
Q3 25
5.1%
Q2 25
-3.2%
Q1 25
-24.3%
Q4 24
24.5%
Q3 24
18.6%
-4.3%
Q2 24
32.2%
-11.5%
Q1 24
13.8%
-10.7%
Net Margin
CMCL
CMCL
VCEL
VCEL
Q4 25
25.0%
Q3 25
7.5%
Q2 25
-0.9%
Q1 25
-21.4%
Q4 24
26.3%
Q3 24
7.0%
-1.6%
Q2 24
20.3%
-8.9%
Q1 24
5.4%
-7.5%
EPS (diluted)
CMCL
CMCL
VCEL
VCEL
Q4 25
$0.46
Q3 25
$0.10
Q2 25
$-0.01
Q1 25
$-0.23
Q4 24
$0.40
Q3 24
$0.13
$-0.02
Q2 24
$0.42
$-0.10
Q1 24
$0.07
$-0.08

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CMCL
CMCL
VCEL
VCEL
Cash + ST InvestmentsLiquidity on hand
$7.2M
$137.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$231.0M
$354.6M
Total Assets
$339.7M
$488.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CMCL
CMCL
VCEL
VCEL
Q4 25
$137.5M
Q3 25
$135.4M
Q2 25
$116.9M
Q1 25
$112.9M
Q4 24
$116.2M
Q3 24
$7.2M
$101.7M
Q2 24
$15.4M
$102.5M
Q1 24
$1.8M
$110.6M
Stockholders' Equity
CMCL
CMCL
VCEL
VCEL
Q4 25
$354.6M
Q3 25
$321.9M
Q2 25
$306.8M
Q1 25
$295.5M
Q4 24
$292.0M
Q3 24
$231.0M
$257.5M
Q2 24
$231.1M
$243.0M
Q1 24
$220.3M
$233.9M
Total Assets
CMCL
CMCL
VCEL
VCEL
Q4 25
$488.0M
Q3 25
$453.3M
Q2 25
$435.6M
Q1 25
$424.6M
Q4 24
$432.7M
Q3 24
$339.7M
$390.4M
Q2 24
$338.5M
$376.8M
Q1 24
$321.8M
$356.7M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CMCL
CMCL
VCEL
VCEL
Operating Cash FlowLast quarter
$4.6M
$15.0M
Free Cash FlowOCF − Capex
$12.8M
FCF MarginFCF / Revenue
13.8%
Capex IntensityCapex / Revenue
2.4%
Cash ConversionOCF / Net Profit
1.40×
0.65×
TTM Free Cash FlowTrailing 4 quarters
$24.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CMCL
CMCL
VCEL
VCEL
Q4 25
$15.0M
Q3 25
$22.1M
Q2 25
$8.2M
Q1 25
$6.6M
Q4 24
$22.2M
Q3 24
$4.6M
$10.2M
Q2 24
$19.1M
$18.5M
Q1 24
$7.2M
Free Cash Flow
CMCL
CMCL
VCEL
VCEL
Q4 25
$12.8M
Q3 25
$19.5M
Q2 25
$81.0K
Q1 25
$-7.6M
Q4 24
$8.5M
Q3 24
$-9.2M
Q2 24
$1.8M
Q1 24
$-6.8M
FCF Margin
CMCL
CMCL
VCEL
VCEL
Q4 25
13.8%
Q3 25
28.8%
Q2 25
0.1%
Q1 25
-14.5%
Q4 24
11.2%
Q3 24
-15.9%
Q2 24
3.4%
Q1 24
-13.3%
Capex Intensity
CMCL
CMCL
VCEL
VCEL
Q4 25
2.4%
Q3 25
3.9%
Q2 25
12.9%
Q1 25
27.0%
Q4 24
18.3%
Q3 24
33.5%
Q2 24
31.8%
Q1 24
27.3%
Cash Conversion
CMCL
CMCL
VCEL
VCEL
Q4 25
0.65×
Q3 25
4.35×
Q2 25
Q1 25
Q4 24
1.12×
Q3 24
1.40×
Q2 24
1.87×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CMCL
CMCL

Segment breakdown not available.

VCEL
VCEL

MACI Implants And Kits$84.1M90%
Other$8.8M10%

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